Loading ...GSR Breathtaking : This Spells T R O U B L E
Again the main utility of this is an early warning forecast of tightening credit conditions in the fall. The message it is transmitting is that any rally in the SM is on borrowed time. It’s actually a set-up gift to anyone who wants to be a short seller this fall. Or to just the average fellow who wants to head for the sidelines for protection.
Keep in mind we have been chronicling this move since the break out of the triangle. That breakout signaled trouble ahead. It was the early warning indicator. We now have the action validating that move with its full expression this week. It is not a coincidence that we also now see a distribution top among the FAANG stocks along with an implosion of market darling/Chief Kool-Aide stock TSLA. This is what we refer to as the language of the market.
There is something rotting underneath. You might find this article to be interesting in regards to gold and silver action: https://twitter.com/triple_leverage/status/883679585375850497
Thank you, Plunger. What you have to say is always well thought out.
Whoops. I attached the wrong link. http://themacrotourist.com/macro/there-is-no-such-thing-as-a-bad-tick
gotta agree with the topping action. Me figure the slaughter begins after the summer holidays as well. The metals go down for the count too as margin buyers dump and cover. Not going to get over excited about the German elections as the past 2 Exits have been hyped duds. North Korea ,Qatar events needed by the big boys to pump up the oil price/petro dollar be the main events on the horizon.